A proposed piece of federal legislation that will expand deep sea exploration, repeal the Democratic moratorium on oil shale, increase research for plug-in vehicles and strengthen the United States futures markets was introduced by Sen. Bob Bennett and Republican lawmakers on June 26.

Bennett focused on the oil shale provision in the Gas Price Reduction Act 2008. The senator urged the U.S. Congress to allow the development of what is potentially 800 billion to two trillion barrels of oil in Utah, Colorado and Wyoming.

"With oil shale we know the oil is there," pointed out Bennett at a press conference on June 26. "We know the potential is there and no one is going to examine it until the rules are drawn up."